Pay More to Read Less
With the internet, the cost to consume texts has exceeded the cost to supply them.
Just as fuel became too expensive for gas-guzzling vehicles in 2008, readers’ time has become too “expensive” for traditional long-form content today. This results in reader behavior changes:
- Switching to shorter formats (articles, summaries, abstracts, bite-sized content)
- Using audiobooks and podcasts while multitasking
- Seeking video or infographic alternatives, or in-person services like training and consulting.
Since time has become so “expensive” for readers,
- Readers are less willing to pay with their TIME for long content but more willing to pay MONEY for content that saves their time (pay for editing)
- Raw information itself becomes cheaper (less profitable), while analysis and synthesis becomes pricier (more profitable).
Just as the auto industry had to adapt to expensive fuel with more fuel-efficient cars and less large SUVs, the publishing industry is adapting to readers’ “expensive” time:
- Rise of book summary services and newsletters with key takeaways (smart brevity) 1
- Growth in short-form content platforms (Twitter, TikTok, 小红书)
- More audio (podcast), visual (video) and condensed (plotting) content format, and more in-person activities (summit, workshop).
The result is market bifurcation 2 :
- Mass market moves toward free, short-form content
- Premium market emerges for well-researched, concise analysis
- Middle ground (traditional long-form without clear value-add) struggles
Information as a Product
When analysis of information becomes a premium product, the corresponding workers, analysts, who provide it, emerge as a new working class.
Smart Brevity: The Power of Saying More with Less: https://www.axios.com/smart-brevity ↩︎
Market bifurcation of journalism: https://boyanxu.com/posts/2024-10-23-market-bifurcation-of-journalism/ ↩︎